4225 & 4245 U.S. 23

$465,000

4225 & 4245 U.S. 23, Delaware, OH 43015

For Sale

Multifamily

Active

Last Updated: 02/09/2026

Details:

Cap Rate: 7.42%

NOI: $34,503

Building Size: 1,832 sqft

Lot Area: 1.48 acres

MlsNumber: Not Available

Highlights:

Gross Income: $ 49305.0

Description:

Nestled in the heart of Delaware, OH, the location presents an enticing opportunity for a mixed-use property, appealing to both business users and multifamily investors. The area's serene surroundings are complemented by the vibrant Polaris Fashion Place, offering an array of shopping and dining experiences. Nearby Highbanks Metro Park and Olentangy Indian Caverns provide a tranquil escape, while convenient access to major highways facilitates seamless connectivity to the metropolitan area. This dynamic setting combines the charm of suburban living with the functionality of a thriving commercial hub, making it an ideal locale for a mixed-use property that caters to diverse business and residential needs.

Fully leased mixed-use income property on high-visibility US-23 corridor

Four income-producing units: auto shop + 3 residential homes on approx. 1.48 acres

Auto shop (4225): ~1,872 SF with two bays, office, and ~0.5 acre fenced yard – ideal for auto, trades, or storage user

Three residential units:

4225 Rear – 3BR/1.5BA modular, ~1,600 SF, new LVT flooring & painted interior

4247 – 2BR/1BA single-wide mobile home

Positioned directly on busy US-23 just north of Delaware, this unique mixed-use property combines stable cash flow with multiple paths for future upside. Spanning roughly 1.48 acres across two parcels, the site includes an operating auto shop with fenced yard plus three residential units, all currently rented.

The front commercial building at 4225 is an approx. 1,872 SF auto shop with two bays, small office space, and a ~0.5 acre fenced yard, ideal for an auto user, contractor, or small business needing outdoor storage. Behind it sits 4225 Rear, a 3-bedroom, 1.5-bath, ~1,600 SF modular home featuring new LVT flooring and freshly painted paneling for a clean, contemporary look, with additional cosmetic upside remaining.

Next door, 4247 is a 2-bedroom, 1-bath single-wide mobile home, and 4245 is a 4-bedroom, 2-bath brick house with strong bones, newer flooring, and simple cosmetic updates still to be completed (cabinets, counters, appliances), offering clear value-add potential for the next owner.

Major capital items have already been addressed. All units have updated HVAC systems and hot water tanks, and the septic lines have been replaced and upgraded to Schedule 40 PVC to reduce the risk of backups and future maintenance headaches. Flooring has been updated in 4245, 4247, and 4225 Rear, providing a solid, low-hassle foundation for continued income.

With four leased units, diversified income from commercial and residential tenants, modernized mechanicals, and plenty of upside in rents and cosmetics, this property is a rare opportunity for an investor or owner-operator seeking cash flow today and room to grow tomorrow on a highly visible US-23 corridor.